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Changes to Organisations Subject to Annual Financial Crime Reporting

30 March 2021
London skyline river thames

Changes to Organisations Subject to Annual Financial Crime Reporting

The UK’s Financial Conduct Authority (FCA) has extended the scope of organisations subject to annual financial crime reporting obligations (REP-CRIM) from 2500 firms to approximately 7000, now including cryptoasset exchange providers and custodian wallet providers among others.

Organisations regulated by the FCA should review the new policy statement and incorporate REP-CRIM obligations into their controls where necessary.